“Marital property” will be equitably divided between you and your spouse when your marriage is dissolved. While there is a legal presumption that “equitable” means “equal”, there are instances when a disproportionate distribution favoring one party or the other, may be more fair. Under equitable distribution, you will end up with a post-divorce estate of similar value to your spouse’s rather than a joint owner of each asset.
Marital property is any asset acquired during your marriage from marital labor or marital income, usually up to the date of the filing of the divorce. This includes, but is not limited to: houses, land, businesses, retirement accounts, stocks and stock options, bonds, notes receivable, assets held in trusts or partnerships, airplanes, boats, cars, investments, the contents of your home, gifts from or to your spouse, jewelry, collections, etc.